Charter One offers new student loan program

Charter One is spearheading a new student loan program that gives borrowers options about how to pay back the money.

The TruFit loan can be repaid immediately, on an interest-only basis, or can be deferred. Borrowers who pay automatically from a Charter One account will receive a one-half point interest rate deduction.

The bank is accepting applications for the loan, which is available for students who are enrolled at least half-time in a four-year undergraduate or graduate program.

Charter One earlier this year launched a program that gives a $1,000 bonus to parents who save at least $25 each month for their young children to go to college. The TruFit program is intended to bridge the gap between federal loans, grants and scholarships and the cost of education, but can be used to finance the entire cost.

For more information, call 1-800-721-3969.

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